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Articles - office rentals

After a robust first half of 2022, the market recovery has slowed down

Activity in the office market recorded its first slowdown in the third quarter of this year after four strong quarters. Overall, total demand of 68,800 square meters was stable compared to last year and also to the average of the last four quarters, but new demand was at only 22,200 square meters, which is a decrease of 39% from last year, according to data from Colliers.

Top cities that attracted the most office tenants in the third quarter of 2022

Across the country, in the last three months, companies have leased modern offices with a total area of 108,747 sqm, both new offices and contract extensions, up 9% from the same quarter of 2021, according to an analysis by Fortim Trusted Advisors, an alliance member of the BNP Paribas Real Estate.

Alpha Bank Romania leases 5,000 sq m in GTC office building City Gate Bucharest

GTC real estate company has announced one of the most important lease transactions of the year. Alpha Bank Romania, part of Greek Alpha Bank Group, will be relocating part of its operations to City Gate North Tower starting January 2023.

Office vacancy is at a record high, amid a shortage of new office buildings

At the end of the third quarter of 2022, Bucharest modern office stock reached 3.30 mln. sq m, registering only 5 office projects delivered in the first nine months of this year. By the end of the current year, just one additional project is estimated to be completed, making 2022 a particularly record year, with the lowest number of office buildings delivered in the last five years, according to CBRE Romania.

Infineon Technologies AG opened an R&D center in IULIUS Group’s Palas Iași complex

Infineon Technologies AG will initially occupy a 600 sqm office area in Iași, located in the Palas mixed-use complex, an investment by IULIUS Group.

ElectroPutere Parc becomes Oltenia’s main IT hub by area and demand

The well-qualified workforce, good infrastructure and location close to the University of Craiova – the largest university centre in south-western Romania, alongside the EP Mall which offers various entertainment options, have consolidated ElectroPutere Parc’s position as the main innovation and technology hub in the region. Companies such as Hella, Ubisoft, Operative and Endava have signed leases with the French real estate group Catinvest, which owns and manages ElectroPutere Parc.

Depanero rented over 4,000 sqm of offices within Sema Parc project

Depanero, the largest electro-IT service company in Romania, has a new headquarters starting this autumn, located in the Sema Parc.

Workspace Studio extends its lease term plus its office space on the 18th floor of SkyTower

SkyTower, the tallest office building in Romania, signed a 5-year lease extension contract with Workspace Studio – a company specialized in office design solutions and Certified Dealer of the MillerKnoll group in Romania.

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